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Nov 29, 2012
11/12
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maybe a lttle less conversation and more on the fiscal cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll sererere tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called fiscal cliff. president obama for his part seems utterly unimpressed by market volatility and the consequences of failure to resolve the issues of tax hikes and spending cuts that go into affect the first of the year. as the markets were falling in the first hour of trading this morning, house speaker john maynard stood up and offered support to investors and leaders for the market. stocks stabilized and then began climbing on the speaker's expression of optimism that a deal is within reach. we will take all of that up and more here toight with bedford open geyser c
maybe a lttle less conversation and more on the fiscal cliff. that is my "2 cents more," and that's it for tonight. thank you for joining us. have a great night. we'll sererere tomorrow. ♪ lou: good evening, everybody. more than 200-point swing in the stock market today, but at the end of the days of volatile session the dow jones industrial had a triple digits gain. anxious investors worldwide, however, have been selling stock on concerns about the impending peril of the so-called...
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Nov 26, 2012
11/12
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so we in california just over the weekend, we were both the fiscal cliff? they said the fiscal blitz? i said it is kind of like a fiscal blitz. >> it does not mean the stock market itself isn't going to react negatively to any deal that comes out with continued problems in europe. david: despite the fact that you are a bull, you only have 8% of your funds in u.s. stocks. why? >> the picture is better from a fundamental standpoint. you hear so many headlines of what is going on in europe and greece. almost generational lows. a lot of the risk is already been taken out.pensive markets in the world. not but 20 or 30% maybe 4%, 5% of u.s. you have to look elsewhere. liz: what are the three areas you like most? speaker in the u.s. overweight financials foreign. we're getting higher exposure to a lot of european countries. some emerging countries outside of europe, thailand turkey, that has had a particularly good momentum. a phenomenal run many index was up 15, 20, 30%. you have the perfect environment for them with high yield environment and they should do very
so we in california just over the weekend, we were both the fiscal cliff? they said the fiscal blitz? i said it is kind of like a fiscal blitz. >> it does not mean the stock market itself isn't going to react negatively to any deal that comes out with continued problems in europe. david: despite the fact that you are a bull, you only have 8% of your funds in u.s. stocks. why? >> the picture is better from a fundamental standpoint. you hear so many headlines of what is going on in...
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Nov 24, 2012
11/12
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why are you so he enamored of fiscal cliff? >> i don't think that $3,500 hit to the average family is going to happen. i think there will be a deal struck here, each side is going to have to give a little bit. my take on the fiscal cliff is the notion that is definitely in everybody's had affecting holiday spending but becoming its don't issue. we are blowing it up -- is like the debt ceiling talks we had last year. these all became issues because we made some issues. net net is no good long-term effects for the economy. gerri: you picked up something interesting out of ben bernanke at statement about banks being too tight with their lending. what did you make of that? >> it is very interesting because ben bernanke is talking about the unwillingness of banks to lend more noncredit were the people and the problem i have with that is banks are having to do that because ben bernanke has killed the bank model and if you look back at banks and how they make money they borrow on the short end meaning they borrow at the low end of int
why are you so he enamored of fiscal cliff? >> i don't think that $3,500 hit to the average family is going to happen. i think there will be a deal struck here, each side is going to have to give a little bit. my take on the fiscal cliff is the notion that is definitely in everybody's had affecting holiday spending but becoming its don't issue. we are blowing it up -- is like the debt ceiling talks we had last year. these all became issues because we made some issues. net net is no good...
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Nov 21, 2012
11/12
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what is the fiscal cliff? what is it going to do if we take the budget cuts to college students aids? >> well, in two ways. the sequestration will cut all student aid but the pell grant by 8 percent across the board. the pell grant sheltered in 2013. come 2014 and also will be cut automatically by 8%. american opporunity tax credit expires the end of 2012 as well. gerri: it sounds like -- and here is your number right here. the fiscal cliff hits it could result in a percent cut in federal student aid. clearly people are going to seek higher costs for college. how can a company that if they have to do it on their own diamond cannot borrow money? >> they need to say before college. every dollar you save is a dollar less you have to borrow. search for scholarships on free web sites. every dollar you when is a dollar less you have to borrow. gerri: and definitely make sure you are saving. i think that is obvious. let's break this down a little bit because there is all kind of student aid. the impact on pell grants
what is the fiscal cliff? what is it going to do if we take the budget cuts to college students aids? >> well, in two ways. the sequestration will cut all student aid but the pell grant by 8 percent across the board. the pell grant sheltered in 2013. come 2014 and also will be cut automatically by 8%. american opporunity tax credit expires the end of 2012 as well. gerri: it sounds like -- and here is your number right here. the fiscal cliff hits it could result in a percent cut in federal...
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Nov 21, 2012
11/12
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>>n a worst-case scenario where the economy goes off the broad fiscal cliff, the largest fiscal cliff, don't think the fed has the tools to offset that. gerri: don't look at me, can do anything if you can't avoid the fiscal cliff. what did you make of that? speak of the war is quite complicit dumb explicit. if the u.s. goes over the fiscal cliff, the jump in taxes woul likely quickly push the u.s. economy into a recession and there is nothing the fed cado to prevent that from happening. gei: it seems to have unloaded everytng they have, the economy has to come back on its own now. >> they can do with the bank of japan is now supposedly considering, resort to negative interest rate policy. consumerwould be charged to keep money in savings accounts. that is one way getting people to spend, i don't think that is likely to happen anytime soon. gerri: i think that is just crazy talk to lots of viewers. but it is reality. instead of getting paid for putting your money someplace, which is the way it normally happens, instead you have to pay for the privilege. now why are people willing to ma
>>n a worst-case scenario where the economy goes off the broad fiscal cliff, the largest fiscal cliff, don't think the fed has the tools to offset that. gerri: don't look at me, can do anything if you can't avoid the fiscal cliff. what did you make of that? speak of the war is quite complicit dumb explicit. if the u.s. goes over the fiscal cliff, the jump in taxes woul likely quickly push the u.s. economy into a recession and there is nothing the fed cado to prevent that from happening....
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Nov 27, 2012
11/12
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cliff, grow an and this fiscal cliff, have a f twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and conder it carefully before investing. risk includes possible loss of principal. ♪ [ male announce] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. neil: all right, tell the truth, a lot of you were shopping at work today, cyber monday. but no deal in w
cliff, grow an and this fiscal cliff, have a f twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read...
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Nov 23, 2012
11/12
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so the fiscal cliff is a contraction in the government imposed into the economy of 45% of gdp. on the first order that will hit and reduce economic growth from 2 percent down some-1,-2 very easily. lou: in your judgment would be helpful, profoundly helpful for congress and this president to agree that there will leave everything, create a status quo for negotiations on a reform of the tax code that would take place over the course of six to nine months next year and hold in abeyance any changes just simply stopping, for the first time in some time ever, congress and our president actually think through public policy. >> absolutely. tax-cut reform on the one hand, and salomon reform on the other. if congress and the president move in that direction it would be a very, very positive signal that the political process is actually functioning. lou: a real quickly, we're out of time. some symbols, reasonable template. >> i think it is. lou: thank you for being here. president obama's reelection reigniting the debate about illegal immigration. what a republican ship on illegal immigra
so the fiscal cliff is a contraction in the government imposed into the economy of 45% of gdp. on the first order that will hit and reduce economic growth from 2 percent down some-1,-2 very easily. lou: in your judgment would be helpful, profoundly helpful for congress and this president to agree that there will leave everything, create a status quo for negotiations on a reform of the tax code that would take place over the course of six to nine months next year and hold in abeyance any changes...
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Nov 25, 2012
11/12
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. >> david: ready to go fiscal cliff diving? apparently a lot of businesses and shoppers are already afraid of the fall. i'm charles payne in for neil cavuto. with the holiday shopping season underway a lot of consumers are saying no way. and more an half sing the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start with you. bad deal for all of us? >> of course, look, business investment was already down last quarter over 1%, and the word uncertainty just pervades the air and its business, its consumer, how about philanthropic organizations don't no what kind of write-offs for charity and the worst the outcome is probably going to be more, and taxes are going to go up and of course there will be no spending cuts. >> and ben, it does sound ominous, even if you're not someone who reads the wall street journal, the fiscal cliff, fiscal cliff, it could be the
. >> david: ready to go fiscal cliff diving? apparently a lot of businesses and shoppers are already afraid of the fall. i'm charles payne in for neil cavuto. with the holiday shopping season underway a lot of consumers are saying no way. and more an half sing the uncertainty around the fiscal cliff will impact their spending and job creators are cutting back on spending and a bad deal for the economy? well, let's ask. ben stein, dagen mcdowell, charlie gasperino and gary k. want to start...
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Nov 21, 2012
11/12
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melissa: so the fiscal cliff is four days away. what are we to overcome a good deal to avoid it seems taxes are going up. i thought the tea party would save us. wasn't that their rally cry in the first place? to him i is and co-author of the book. why deprive of our public depends on our honor. are you guys going to stop this somehow? >> i think it is something the tea party has put massive amounts of energy into it if you think about it, the democrats fight the republicans, republicans fight the democrats, the tea party has to fight on both fronts. it requires extra amount of strategy and foresight and vision remembering the tea party is really only four years old but has regrouped. the tea party is very committed to getting involved in infiltrating the g.o.p. on the local level, that is all still happening very actively. melissa: it sounds like i'm about to be taxed to death. i could go to bermuda, but that is about it. other than that, it is going to happen. >> some things will happen, but i do think the tea party people who hav
melissa: so the fiscal cliff is four days away. what are we to overcome a good deal to avoid it seems taxes are going up. i thought the tea party would save us. wasn't that their rally cry in the first place? to him i is and co-author of the book. why deprive of our public depends on our honor. are you guys going to stop this somehow? >> i think it is something the tea party has put massive amounts of energy into it if you think about it, the democrats fight the republicans, republicans...
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Nov 24, 2012
11/12
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starting with the fiscal cliff talking about a special prosecutor with benghazi of the speaker makes it clear he will approach and a sheet -- negotiation positively with some sense of accommodation if his terms are met. that is pretty positive? >> there is a lot of pressure right now. that is what you use to take part been and make diamonds. you need to be bold, not offensive. the speaker came away with the proposal but we should take the president's words he wants everybody to pay their fair share. let's have capital gains come income tax, make sure warren buffett pays at least as much as his secretary and what has proposed will not have warren buffett pay the same. have a flat tax. if you make more, you pay more. lou: president himself may have been talking to you or others about the possibility of reforming the entire tax code. >> this is a great time. >> don't forget to the last time the senate had a budget is when her read worked with speaker pelosi nobody complained they're not spending enough money. 2.5 trillion goes off $1 trillion of spending right there. lou: there are alwa
starting with the fiscal cliff talking about a special prosecutor with benghazi of the speaker makes it clear he will approach and a sheet -- negotiation positively with some sense of accommodation if his terms are met. that is pretty positive? >> there is a lot of pressure right now. that is what you use to take part been and make diamonds. you need to be bold, not offensive. the speaker came away with the proposal but we should take the president's words he wants everybody to pay their...
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Nov 28, 2012
11/12
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fiscal cliff. what is the fiscal cliff. what that means right now all of the taxings for the most part are scheduled to go up and spending cuts are sposed to go in place and if that is not enough. democrats are insisting that alongg with the fiscal cliff there should be an agreement on raising the debt limit. >> brian: billionns or trillions. going to hit the ceiling. you want to know how it relate to you. it is 2000 per family and everyone making a certain amount of money. we could be heading to this. and it is not to anyone's ben benefit to go over the cliff. there is a push to how to get manage done. president of the united states is going on the campaign traill through a series of rallies. >> steve: to a tinker toy factory. >> brian: get yourself up to lincoln log jacks on the way home. >> gretchen: this is disconcerting once again. instid of members that we elect to congress to get things done for us. they can't sit in the room for a photoop and now back out on the campaign trial and people making youtube videos about
fiscal cliff. what is the fiscal cliff. what that means right now all of the taxings for the most part are scheduled to go up and spending cuts are sposed to go in place and if that is not enough. democrats are insisting that alongg with the fiscal cliff there should be an agreement on raising the debt limit. >> brian: billionns or trillions. going to hit the ceiling. you want to know how it relate to you. it is 2000 per family and everyone making a certain amount of money. we could be...
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Nov 25, 2012
11/12
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we are in a fiscal cliff and rough waters here and now this to deal with? >> i think it could be bad for the econom they have the merchandise and this is not going to affect thanksgiving shopping season and christmas most likely. but look at history. 1948 we had five million workers on strikend it crippledhe economy. the taft hartley act brought back the boom. that is it breaking of the unions and created the boom that eisenhower had. if these uon heads go forward. this could hurt t economy. >> tracey, you made the point about the retailers, it could hurt the consumer spending as well the economy needs that right now. and economist looking to the holiday shopping season to get big numbers out. >> cheril, i am a last minute shopper and i disagree that they have everything in for the season. stuff comes in down to the wire in so many small businesses if you don't have what i am looking for when i generally geout there, i am not buying it that hurts the over all economy. and look. at the unionshat are you doing? people are dying for jobs and you are basic lie
we are in a fiscal cliff and rough waters here and now this to deal with? >> i think it could be bad for the econom they have the merchandise and this is not going to affect thanksgiving shopping season and christmas most likely. but look at history. 1948 we had five million workers on strikend it crippledhe economy. the taft hartley act brought back the boom. that is it breaking of the unions and created the boom that eisenhower had. if these uon heads go forward. this could hurt t...
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Nov 28, 2012
11/12
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CNNW
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we have heard a lot about the fiscal cliff. i mean you're probably sick of hearing that term fiscal cliff, debt ceiling, tax increases. got a lot of us worried that we're at the mercy of a feckless congress behaving more like stubborn kids than responsible lawmakers. wait. we did promise you a dream off the top of the show. imagine for a moment what it would be like if none of this fiscal cliff nonsense mattered the least bit to you. no debts. no family budgets. and a half billion dollars worth of powerball dreams. that is the jackpot, folks. the powerball jackpot. it just so happens to take millions of us buying up tickets to fatten up that jackpot to that big old size. alison kosic is at a 7-eleven in new york basically meeting a few of the wanna-be one percenters. the truth of the matter, what are the odds? >> reporter: i know. i hate to throw cold water on your whole dream statement that you gave. yes this is all about dreams but you know the odds of winning are really low. 175 million to 1. those are your odds. you know wh
we have heard a lot about the fiscal cliff. i mean you're probably sick of hearing that term fiscal cliff, debt ceiling, tax increases. got a lot of us worried that we're at the mercy of a feckless congress behaving more like stubborn kids than responsible lawmakers. wait. we did promise you a dream off the top of the show. imagine for a moment what it would be like if none of this fiscal cliff nonsense mattered the least bit to you. no debts. no family budgets. and a half billion dollars worth...
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Nov 28, 2012
11/12
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after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect question. look at the chart. here's a chart of today's treasury action against the equity market. indeed, other than around 1:00 eastern after the auction, they've been correlating. stocks go up, rates go up. stocks go down, rates go down. we're trading on pr. if the premise of this exchange is should we trade on headlines, if you're a day trader who understands once you make a trade and the air is gone out of the person you trade it with, that's the only realism that is there. pr doesn't move markets more than the short term. most of the people i
after the fiscal cliff everything is fine. i think there's a reason for cautious optimism, but i don't think there's a reason to think it's going to go gang busters. >> we saw harry reid speak yesterday. the market moves when we see different comments out of washington. we saw it again today on this perception that was actually positive commentary. our bar has gotten pretty low. we see stocks move around a lot. what about interest rates? are they responding as much? >> well, perfect...
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Nov 29, 2012
11/12
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the fiscal cliff being one of them. david: right. >> they don't really think they can overcome on their own. david: jon, we had sheila bair on a critic the fed. she is not a right-wing ideologue by any respect. she was for elizabeth warren. she says they are creating another bubble. in december they meet again. the question will they continue with operation twist where they buy the long term bonds. they don't have many short-term bonds to trade for in their portfolio, do they? >> bottom line, if they continue purchases of long term bonds they have been doing they will have to do it by printing money, which isn't going to make critics of the fed --. david: that is pure monetizaton of the debt, right? if they're printing money to buy debt. that is monetizaton of debt. that is the definition of it. >> it is close to it. it is close to it. they're not buying it directly from the government. they're buying it from secondary markets. it certainly has the sniff of that. this is one of the reasons why the what the fed is doing
the fiscal cliff being one of them. david: right. >> they don't really think they can overcome on their own. david: jon, we had sheila bair on a critic the fed. she is not a right-wing ideologue by any respect. she was for elizabeth warren. she says they are creating another bubble. in december they meet again. the question will they continue with operation twist where they buy the long term bonds. they don't have many short-term bonds to trade for in their portfolio, do they? >>...
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Nov 27, 2012
11/12
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are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good evening, laurie, and i think we are getting somewhat closer, and the white house would count it as good news that you found common cause with their report on the impact of fiscal spending. let's talk for a moment about what's happened on the fiscal cliff by the numbers since that early constructive meeting with the congressional leaders and the president. the numbers are all one. there's one month left for these leaders to figure it out. two, 1.4 it is is the amount to be shaved off by gdp and one is the amount of trillions of dollars that democratic aides, senior democratic aides tell me is necessary to get a deal wit end of the year with the remaining 3 trillion of savings coming in the early part of next year, ants finally one is the number of phone calls made over the weekend between president obama and house speaker john boehner so there hasn't been a lo
are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good evening, laurie, and i think we are getting somewhat closer, and the white house would count it as good news that you found common cause with their report on the impact of fiscal spending. let's talk for a moment about what's happened on the fiscal cliff by the numbers since that early constructive meeting with the...
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Nov 22, 2012
11/12
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you know, at the fiscal cliff, anxiety raises. i don't think anyone is talking about entitlements. >> actually, going back to what you said about 45 million, i don't know the exact number, when you think about it, that is one out of seven americans. one out of four is having their turkey dinner paid for by taxpayers. what is wrong that people can't afford to put food on the table. it's a tstament to how this economy is. and how much we have created the entitlement mentality that everyone feels they should that they should be on food stamps. when you look at the costs, within about two years, texas at the federal level are going to go just to pay for entitlement programs that have no money left over to pay for all of the other programs of the government. and i find it very suspicious and interesting as you do that here we ha been talking about this for the last couple of weeks and nobody is talking about reforming these things. >> here is the thing. my idea is let them out there. you have a coupe of years to do damage control. ulti
you know, at the fiscal cliff, anxiety raises. i don't think anyone is talking about entitlements. >> actually, going back to what you said about 45 million, i don't know the exact number, when you think about it, that is one out of seven americans. one out of four is having their turkey dinner paid for by taxpayers. what is wrong that people can't afford to put food on the table. it's a tstament to how this economy is. and how much we have created the entitlement mentality that everyone...
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Nov 28, 2012
11/12
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focus on rather than the fiscal cliff. here's a clue. ♪ [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated suppor teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information y want when you need it. it's anothereason more invtors are saying... [ all ] i'm with scottrade. well, having a ton of locations don't hurt. and a santa to boot! [ chuckles ] right, baby. oh, sir. that is a customer. oh...sorry about that. [ male announr ] break from the holiday stress. fedex office. ♪ gerri: president obama's says he is confident a deal on the fiscal cliff can be reached by christmas. both sides seem so far off. even among senate democrats, there are deep divisions over whether to include cuts to medicare or medicaid. intel not reform, should it be part of the fiscal cliff talks? here is wh
focus on rather than the fiscal cliff. here's a clue. ♪ [ male announcer ] at scottrade, we believe the more you know, the better you trade. so we have ongoing webinars and interactive learning, plus, in-branch seminars at over 500 locations, where our dedicated suppor teams help you know more so your money can do more. [ rodger ] at scottrade, seven dollar trades are just the start. our teams have the information y want when you need it. it's anothereason more invtors are saying... [ all ]...
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Nov 27, 2012
11/12
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that the talks have stalled as it pertains to the fiscal cliff. does that just cause the markets to dive? >> yeah, i think so. i mean, i'm actually -- i feel like i'm standing in the wrong line, as it were, the wrong checkout line. the market continues to shrug its shoulders over these things. we have the incorrigible teenagers in washington who just cannot figure this out right now. it's pretty simple, taxes and spending. they want to make headlines, and i think the market's becoming fed up with it, and that's why we're seeing the action behind me, and we'll probably see more tomorrow. david: drew kanaly, it was a negative day, all of the indices were down, the nasdaq stopped its winning streak, but look at these headlines. liz, we had a lot of positive headlines when we woke up. consumer confidence, the best since february '08, the richmond fed saw a positive jump for its region, home prices continuing to rise, durable goods, better than expected. there was progress on those greek debt talks. i mean, despite all of these positive news items we g
that the talks have stalled as it pertains to the fiscal cliff. does that just cause the markets to dive? >> yeah, i think so. i mean, i'm actually -- i feel like i'm standing in the wrong line, as it were, the wrong checkout line. the market continues to shrug its shoulders over these things. we have the incorrigible teenagers in washington who just cannot figure this out right now. it's pretty simple, taxes and spending. they want to make headlines, and i think the market's becoming fed...
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Nov 28, 2012
11/12
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avoiding the fiscal cliff. now the president and house republicans plan to hit the trail in search for support for their competing plans. plus, the u.s. ambassador, susan rice, meets with some of her toughest critics. and apparently they don't like what she has to say. >> we are significantly troubled by many of the answers that we got and some we didn't get. more disturbed now than i was before. >> shepard: republican senators criticizing ambassador rice for her initial comments on the libya consulate attack. >> ambassador rice has no responsibility for collecting, analyzing and providing intelligence. >> shepard: tonight the ambassador responds. >>> plus, the people of egypt trying to avoid trading one dictator for another. fighting back against a president who gave himself new powers. tonight a potential crisis point as the leader tries to put himself above the law. and how will the u.s. handle this? >>> plus, the chances of winning are ridiculously low. but millions of us are still lining up for a shot at a
avoiding the fiscal cliff. now the president and house republicans plan to hit the trail in search for support for their competing plans. plus, the u.s. ambassador, susan rice, meets with some of her toughest critics. and apparently they don't like what she has to say. >> we are significantly troubled by many of the answers that we got and some we didn't get. more disturbed now than i was before. >> shepard: republican senators criticizing ambassador rice for her initial comments on...
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Nov 22, 2012
11/12
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fixing the fiscal cliff fiasco. here we have it under control. if no one else is going to step up with a solution, we will get it started with our own answers about where to start with spending cuts. joining me to go through the ideas is our chief economist. brian, thank you for coming back on the show. >> thank you for having made. melissa: i am so sick of people coming on and saying what the other guy is going to give and not have a solution and i said, you know what, let's roll up our sleeves and get to work and come up with some solutions. we are talking about raising taxes and we haven't really drill down on the possible spending cuts out there. for example, senator coburn showing $67.9 million. it can be saved over the next 10 years by cutting nondefense spending. among those things. it was a huge report, more than 400 pages filled with all kinds of stuff. some examples were a smart phone half that alerts users when to take their coffee break. i feel like we are things we could be cutting. what do you think? >> the federal government is spe
fixing the fiscal cliff fiasco. here we have it under control. if no one else is going to step up with a solution, we will get it started with our own answers about where to start with spending cuts. joining me to go through the ideas is our chief economist. brian, thank you for coming back on the show. >> thank you for having made. melissa: i am so sick of people coming on and saying what the other guy is going to give and not have a solution and i said, you know what, let's roll up our...
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Nov 23, 2012
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it feels like groundhog day because we have the government shutdown, fiscal cliff. i mean, washington, d.c. is such a mess, and it's really too bad that we didn't have more change from the election. so what i'm hoping is that president obama will be more of a president and less of a candidate, because he's the mac daddy candidate, there's no doubt about it. this is the guy who can campaign. but he's not governed. he's not led as president. so i'm very hopeful that the new year would bring that. and i'd also like to see new leadership in the republican party. i think john boehner needs to go. i think it needs to be a kevin mccarthy as well as in the senate. you know, we need new leadership. marco rubio would be a great senate minority leader, and it's bold, but we need the change in washington d.c. heather: but in the meantime, we have what we have right now, we are just a matter of weeks away, so what do you think they need to do, and do you think that president obama will take the lead with dwoarks this time around? -- with negotiations this time around? >> absolut
it feels like groundhog day because we have the government shutdown, fiscal cliff. i mean, washington, d.c. is such a mess, and it's really too bad that we didn't have more change from the election. so what i'm hoping is that president obama will be more of a president and less of a candidate, because he's the mac daddy candidate, there's no doubt about it. this is the guy who can campaign. but he's not governed. he's not led as president. so i'm very hopeful that the new year would bring that....
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Nov 23, 2012
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with the fiscal cliff. there are still a lot of concerns out there despite positive news like the improvement in german business confidence and the signs we see strengthen china as well. >> mr. skeptic, what would make you bullish in this market right now? >> bill, it's fascinating. today we talk about employment trying to turn around and we see people walking out of their jobs at walmart on the biggest day of the year. i want to see a change in total attitude in this country, not just some housing numbers, not just a blip up in employment. we've got a structural problem with our mentality. that's what it would take me to get majorly bullish on the market. >> what specifically are you talking about here? i get the employment thing but what would make this -- what structural change you talking about? i don't get what you're saying here. >> well, again, it is an attitude change. we're having people who are walking out of their jobs on the biggest day of their employer's year. and their attitude is we're not g
with the fiscal cliff. there are still a lot of concerns out there despite positive news like the improvement in german business confidence and the signs we see strengthen china as well. >> mr. skeptic, what would make you bullish in this market right now? >> bill, it's fascinating. today we talk about employment trying to turn around and we see people walking out of their jobs at walmart on the biggest day of the year. i want to see a change in total attitude in this country, not...
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Nov 27, 2012
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of what people are calling the fiscal cliff. is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think going off the fiscal cliff would necessarily be a bad thing? >> it would be a bad thing to raise taxes. it doesn't make sense to me. i don't accept that cutting spending is bad for the economy. i think cutting federal spending, which means less borrowing up here, is go for the economy, but i do think taxes going up is a bad thing for the economy. i agree with half of the equation of the fiscal cliff, but i don't agree if taxes going up is bad for the economy why would we only want half of the taxes to go up? >> greta: that's like the reverse of the
of what people are calling the fiscal cliff. is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think...
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Nov 27, 2012
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the fiscal cliff negotiations under way. business leaders go to washington meeting republican and democratic house leaders. but is what is good for business really good for the country? the "a-team" next. the government tracking terrorists, criminals, and students. a texas school district wants to attract their students. big brother not a big hit with the students. protests are up in egypt over president more seize power grab. will the united states sit by quietly as he makes his move to become their leader? and is sure real law next? acclaims dollar middle east expert joining us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 ml350 for $599 a month at your local mercedes-benz dealer. heartburn symptoms causedelieve by acid refl disease. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain
the fiscal cliff negotiations under way. business leaders go to washington meeting republican and democratic house leaders. but is what is good for business really good for the country? the "a-team" next. the government tracking terrorists, criminals, and students. a texas school district wants to attract their students. big brother not a big hit with the students. protests are up in egypt over president more seize power grab. will the united states sit by quietly as he makes his move...
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Nov 21, 2012
11/12
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fiscal cliff, yes or no? do we go over it? if so, the consequences. >> we do not come by but not for the good reasons which i have heard you analyze. very little movement on tax rates next year. very little movement on spending generally a slight decrease. lou: no movement, are using the bush tax cuts will be allowed to expire? >>o. what i'm saying is that the bush tax cuts, but for a slight modification will persist in 2013. spending reductions, which were made by the forced sequester will not be made in the amount suggested and will be only modest, and it will be a reductn in spending it will be a modest reduction in the rate of increase in spending such the we will have a $1 trillion plu deficit next year. more of the same. lou: as always. >> thank you. lou: up next to illegal immigrants wants new privileges because, i hate to tell you, it looks like pandering contagious. imagine that. and forget susan rice. not the plot -- the biggest problem with this administration we will demonstrate to you the gaping holes in the bengh
fiscal cliff, yes or no? do we go over it? if so, the consequences. >> we do not come by but not for the good reasons which i have heard you analyze. very little movement on tax rates next year. very little movement on spending generally a slight decrease. lou: no movement, are using the bush tax cuts will be allowed to expire? >>o. what i'm saying is that the bush tax cuts, but for a slight modification will persist in 2013. spending reductions, which were made by the forced...
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Nov 28, 2012
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>> i think the fiscal cliff is looming. it is kind of in the background. but the sell-off is really triggered by the put buying from yesterday. some kind of fund liquidating. >> we'll send it over to you. >>> we'll speak with a key player in the fiscal cliff negotiations, senator kent conrad from north dakota just joined me. >>> plus warren buffett saying earlier on cnbc saying under his plan he'd pay a 35% tax on all the money he earns. good move? we'll discuss it when we come back. try running four.ning a restaurant is hard, fortunately we've got ink. it gives us 5x the rewards on our internet, phone charges and cable, plus at office supply stores. rewards we put right back into our business. this is the only thing we've ever wanted to do and ink helps us do it. make your mark with ink from chase. [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, with the perfect vehicle that's just right for you, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 c250 for $349 a month at your local
>> i think the fiscal cliff is looming. it is kind of in the background. but the sell-off is really triggered by the put buying from yesterday. some kind of fund liquidating. >> we'll send it over to you. >>> we'll speak with a key player in the fiscal cliff negotiations, senator kent conrad from north dakota just joined me. >>> plus warren buffett saying earlier on cnbc saying under his plan he'd pay a 35% tax on all the money he earns. good move? we'll discuss it...
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Nov 29, 2012
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are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on local, helping businesses retain customers an drive frequency in their local markets can really help drive through any potential impact of a fiscal cliff. >> jeff, what are you hearing in the valley about the fiscal cliff, how concerned are the other people that you talk to, the inknow vnovators out there, are millionaires, billionaires and many of whom are trying to start new businesses in the valley. >> you know, the perception is more about -- the talk is more about the potential impact on business and allowing -- not taking action to address this issue and letting it expire is bad for business. every
are they worried that if indeed we get close to the fiscal cliff or we go over the fiscal cliff that that will affect their businesses? >> well, for us, we primarily focus on working with small, medium size businesses. fiscal cliffs and politics don't come up much in our conversations. we focus on creating customer unique rewards. i think businesses know from a consumer standpoint, it's greater than 90% are disposable income is spent within a couple of miles of your home. focusing on...
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Nov 29, 2012
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particularly if we fall off the fiscal cliff. the united states, the largest economy in the world, but yet we have the largest debt in the world. that's why the conversation needs to go to spending. what are we doing with all this money? unemployment, skyrocketing at 9%, but a slow-down in our gdp. >> sean: the real cliff is what you're saying, down the road, when it's $20 trillion in debt, when it's not $16 trillion. >> doesn't matter. say we put in place revenue to come in to the door, what are we going to do with it? >> sean: they've already spent it. >> that's so true. it's already spent. >> anytime they raise more taxes, more revenue coming in, they spend it. the beast of government is ravenous. they never cut back. you're exactly right, sean, the real fiscal cliff is when the laws of economics kick in, which they will inevitably do, they have to do, because it can't go on like this. you see the results of hitting the wall in greece, in spain, i3 italy. it will happen here. unlike the european countries, there's nobody to ba
particularly if we fall off the fiscal cliff. the united states, the largest economy in the world, but yet we have the largest debt in the world. that's why the conversation needs to go to spending. what are we doing with all this money? unemployment, skyrocketing at 9%, but a slow-down in our gdp. >> sean: the real cliff is what you're saying, down the road, when it's $20 trillion in debt, when it's not $16 trillion. >> doesn't matter. say we put in place revenue to come in to the...
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Nov 28, 2012
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>> fiscal cliff. fiscal cliff. you think that's funny? fiscal cliff. debt ceiling. ybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. now's a good time to think about your options. are you looking for a plan that really meets your needs? and your budget? as you probably know, medicare only covers about 80% of your part b medical expenses. the rest is up to you. so consider an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs every year. call today to request a free decision guide. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referr
>> fiscal cliff. fiscal cliff. you think that's funny? fiscal cliff. debt ceiling. ybe new buildings? what about updated equipment? they can help, but recent research shows... ... nothing transforms schools like investing in advanced teacher education. let's build a strong foundation. let's invest in our teachers so they can inspire our students. let's solve this. now's a good time to think about your options. are you looking for a plan that really meets your needs? and your budget? as...
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Nov 22, 2012
11/12
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what can be done to avoid the fiscal cliff? >> i'm at 187, a shout out to everybody at home. happy thanksgiving and see you guys in a few months, back in nashville. >> i'm harris from the expedition forces and here in bagram, afghanistan, like to give a shout out to my mother. happy thanksgiving, i love you mom and i wish the best of luck to everyone in savannah, georgia. i love you guys. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. hurry in this friday for great deals. like the droid razr by motorola in cranberry, free. or a white 7-inch samsung galaxy tab 2, just $99.99. this friday, get the best deals on the best devices on the best network. exclusively at verizon. >> senator session, you're the ranking on the budget committee. and there are hurdles to g
what can be done to avoid the fiscal cliff? >> i'm at 187, a shout out to everybody at home. happy thanksgiving and see you guys in a few months, back in nashville. >> i'm harris from the expedition forces and here in bagram, afghanistan, like to give a shout out to my mother. happy thanksgiving, i love you mom and i wish the best of luck to everyone in savannah, georgia. i love you guys. ♪ ♪ [ male announcer ] they are a glowing example of what it means to be the best. and at...
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Nov 26, 2012
11/12
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people are still worried about unemployment and the fiscal cliff. is that impact's people's to -- proclivity to spend money? >> we are in week one of the holiday season. we will have to let the season play out. as you said in your opening, this is the longest holiday purchasing with 33 days between thanksgiving and christmas. it is true, consumers will traditionally spread their purchases out more. the bigger trend is how people are purchase ing. younger shoppers shopping later at night are more social and connected and the shoppers that are kind of driving this trend of my stuff, my place, my time. we see some of the technologies and capabilities we're providing whether multichannel or retail tech tolgss the ability to let the retailer shop when they want to shop. the same shopper that may come out at 7:00 or 8:00 on thanksgiving evening is probably also browsing on their ipad or their tablet over thanksgiving dinner. the world has changed and seeing where they are going to go shopping. it is an integrated approach to the season and way too early t
people are still worried about unemployment and the fiscal cliff. is that impact's people's to -- proclivity to spend money? >> we are in week one of the holiday season. we will have to let the season play out. as you said in your opening, this is the longest holiday purchasing with 33 days between thanksgiving and christmas. it is true, consumers will traditionally spread their purchases out more. the bigger trend is how people are purchase ing. younger shoppers shopping later at night...
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Nov 27, 2012
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>> put numbers on the fiscal cliff. we have an economy growing between 1 and 2% a year f we go over the cliff, take three 3 to 4% out of the economy. >> resession. >> put us in recession. why think they are going to sit there and let that happen any real period of time. a question whether they solve the problem in december before they go over could it in january or february, effective january 1. >> not to be glass half empty, you heard the harry reid comment. let's not forget, a lot of these men and women in congress are the same ones there putting blame on both parties to get us to here in the first place why should we be could confident the same people that got us here will get us out of it? >> politicians by nature don't take action until they are backed in a corner with the gun to their head. right knew in the correspondent the gun's loaded. >> recessionary gun. >> resessionnary gun. we as the american public are fools if we would elect, re-elect anybody that sat there and watched this thing go over the cliff. the b
>> put numbers on the fiscal cliff. we have an economy growing between 1 and 2% a year f we go over the cliff, take three 3 to 4% out of the economy. >> resession. >> put us in recession. why think they are going to sit there and let that happen any real period of time. a question whether they solve the problem in december before they go over could it in january or february, effective january 1. >> not to be glass half empty, you heard the harry reid comment. let's not...
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Nov 28, 2012
11/12
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melissa: and now, to the fiscal cliff. things seem to take a 180 as news out of the white house indicated progress, made. earlier senator orrin hatch said both sides were about 23 dal billion away from a deal. that sounds like a lot. in washington that is nothing, going over the cliff. we were looking more than 600 dal billion in tax increases and spending cuts. wall street was pleased what they heard today. the president is meeting with top ceos as we speak. make of that what you like. with his take, wyoming senator john barrasso. thanks for coming back to the show. we always appreciate your time. >> thank you, melissa. melissa: what do you think? are we getting closer? to me 23 dal billion, that is a little money. but to you guys that is coins in the couch cushion. >> i want to find a solution. i want us to get to an answer on this. some democrats said we should go over the fiscal cliff. i think that would be a mistake. i met earlier today with the same ceos that the president is meeting with at this hour. we need to fin
melissa: and now, to the fiscal cliff. things seem to take a 180 as news out of the white house indicated progress, made. earlier senator orrin hatch said both sides were about 23 dal billion away from a deal. that sounds like a lot. in washington that is nothing, going over the cliff. we were looking more than 600 dal billion in tax increases and spending cuts. wall street was pleased what they heard today. the president is meeting with top ceos as we speak. make of that what you like. with...
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Nov 26, 2012
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a dark fiscal cliff. a new government report warning is an increase in texa taxes wod crush the middle-class spending. the dow down 70 points. it seems republicans are changing their tune on taxes. i don't know. lou dobbs with us as more congressional leaders break from the antitax pledge. and two years after the signs in cairo they look the same. mohamed morsi moves for absolute power sparking violent clashes in the streets between his supporters and opponents. but first, it is time to check stocks as would every 15 minutes, let's head to the floor of the new york stock exchange. nicole, the market is down and out on the fiscal cliff. i'm afraid. nicole: there's a lot going on on wall street. selling across the board, down 72-point at the lowest .12900, so about 40 points off of the earlier lows, however we are seeing selling from sector to sector with its banks or drugs or retail. the areas that have been pretty good our technology, semi conductors holding on, utilities giving it a go after selling off
a dark fiscal cliff. a new government report warning is an increase in texa taxes wod crush the middle-class spending. the dow down 70 points. it seems republicans are changing their tune on taxes. i don't know. lou dobbs with us as more congressional leaders break from the antitax pledge. and two years after the signs in cairo they look the same. mohamed morsi moves for absolute power sparking violent clashes in the streets between his supporters and opponents. but first, it is time to check...
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Nov 27, 2012
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more worries about this darn fiscal cliff. that could send the economy into recession if washington doesn't make a deal to soften the draconian spending cuts. and the tax increases by the end of the year. i say could, meaning i believe it will. we need to take a cautious approach when it comes to retail because of the cliff. a lot of retailers are running right now. but we want to own something that won't be hurt too badly if we do go over the cliff. a stock that's pulled back dramatically of late. i'm talking about ross stores. r-o-s-t. the company behind two off-price retail concepts we can't get enough of here on "mad money." ross is an off price play like tjx, another strong, strong player, where people go to get terrific deals on merchandise that's been marked down dramatically. the company's pretty much immunized against a fiscal cliff. well, at least one that induces a recession. consider t hat since 2005, ross stores has had only a single quarter of negative same-store sales growth during the great recession in 2009. j
more worries about this darn fiscal cliff. that could send the economy into recession if washington doesn't make a deal to soften the draconian spending cuts. and the tax increases by the end of the year. i say could, meaning i believe it will. we need to take a cautious approach when it comes to retail because of the cliff. a lot of retailers are running right now. but we want to own something that won't be hurt too badly if we do go over the cliff. a stock that's pulled back dramatically of...
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Nov 29, 2012
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from falling off the fiscal cliff? we'll get the worst case scenario when we come back. >>> welcome back. kbw declaring a special $2 a share dividend becoming the latest company in a growing list so far. 174 companies have announced special dividends in november according to s&p. that's a new record. who are some potential issuers on deck? >> goldman sachs back in september put out a note that i think really got this conversation going. the one name they mentioned on there that has not yet done the special dividend is mastercard. doc was talking about it before reaching new levels today. i think mastercard is a name that you could focus on. >> when you own a stock and they announce a special dividend it is great but the problem with chasing them is once the thing goes "x" dividend, typically the price will adjust. it is not necessarily a great short term trade. i'd focus more on consistent dividend paying as opposed to special dividend. >> google's on my list. $50 billion in cash. at least one-third of that onshore. th
from falling off the fiscal cliff? we'll get the worst case scenario when we come back. >>> welcome back. kbw declaring a special $2 a share dividend becoming the latest company in a growing list so far. 174 companies have announced special dividends in november according to s&p. that's a new record. who are some potential issuers on deck? >> goldman sachs back in september put out a note that i think really got this conversation going. the one name they mentioned on there...
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Nov 27, 2012
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cheryl: let's get fiscal on our fiscal cliff survival kit. who else but tracy byrnes with what you need to know and what you can do right now. dennis: a look at the day's winners on the s&p. cheryl. >> nicole petallides lived at the new york stock exchange every 15 minutes. we have you covered. things on the move and looking at according they may correlate glass with the outlet day shall look better than expected. used with this barbosa tablets. they see more demanded usual steve mad and is down nokia other stocks with the companies issuing dividend dividend -- dividend early to avoid the fiscal cliff part of back to you. >> with those higher dividend tax is. consumer confidence for november at the highest level since every 2008. just-in-time for the holiday is. will it continue? and joining us now is mark, we will stoke the fiscal cliff phobia but they just bought 30% more on cyber monday than one year-ago. >> consumers have tune it out. we always go to the brink and nothing happens. but what is happening with the job market? it is improving
cheryl: let's get fiscal on our fiscal cliff survival kit. who else but tracy byrnes with what you need to know and what you can do right now. dennis: a look at the day's winners on the s&p. cheryl. >> nicole petallides lived at the new york stock exchange every 15 minutes. we have you covered. things on the move and looking at according they may correlate glass with the outlet day shall look better than expected. used with this barbosa tablets. they see more demanded usual steve mad...
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Nov 22, 2012
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. >> what fiscal cliff, right now we're up by 12% from our 12 month low. in terms of a month long average that is pretty good, investors are not as frightened as they were some days ago regarding possibility of higher taxes, for capital gains and dividend. lou: they are still in prospect, all of it is. we have folks introducing bills to defer the whole thing for a year now. and the president is making nice, he is talking with ceos, seeming leally almost every othr day. >> market thinks we have a kinder and gently barack obama, who knows that might be correct. but who knows, business sales show no signs of improving sig 1/2 cannily, we'll issue watching what happens this week into start of the holiday shopping scene very closely. lou: at what point do we just acknowledge we're sort of you know bumbling along, economically, that the markets are outperforming the economy. and if we look at this right now, there is a project here that from index of leading economic an kate or to market's behavior that says we have good things in store here 6 months down the ro
. >> what fiscal cliff, right now we're up by 12% from our 12 month low. in terms of a month long average that is pretty good, investors are not as frightened as they were some days ago regarding possibility of higher taxes, for capital gains and dividend. lou: they are still in prospect, all of it is. we have folks introducing bills to defer the whole thing for a year now. and the president is making nice, he is talking with ceos, seeming leally almost every othr day. >> market...
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Nov 21, 2012
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fiscal cliff is like down the listelist. >> up until november i think the fiscal cliff was a concern for business and you could see in confidence numbers coming off and the pullback in capital spending. consumers are feeling good, home prices are up, the job market has gotten a little bit better and you can see consumer confidence rising to the highest level of the recovery. but after the election now front and center all the coverage really is the fiscal cliff, the warnings, what might happen. that is finally, as a result, starting to hit home. in october, for example, very few people have the fiscal cliff on the radar screen. now half of them are worried about it. i think it has moved up the list now for the first time for consumers. melissa: to ask why they are not buying more, they will stand so darn right about that fiscal cliff, i will not get an extra toy. >> how they really feel it is the equity market is not doing well in the last month. that is what brings it home for consumers. you can ask how has the economy thabeen doing the last couple of weeks they don't feel quite as
fiscal cliff is like down the listelist. >> up until november i think the fiscal cliff was a concern for business and you could see in confidence numbers coming off and the pullback in capital spending. consumers are feeling good, home prices are up, the job market has gotten a little bit better and you can see consumer confidence rising to the highest level of the recovery. but after the election now front and center all the coverage really is the fiscal cliff, the warnings, what might...
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Nov 24, 2012
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on the fiscal cliff. he wants to do that over the next decade. and, this is the kind of math i like, it works out to $160 billion per year, in taxes. republicans howling about that. are they wrong to be upset? let's look at numbers. earlier this year, the president unveiled a 3.8 -- i love this. we talk about these numbers like there is nothing do it. $3.8 trillion budget. all right, he forecast a $1.3 trillion deficit. okay? so that means, if i can figure that out, he had $2.5 trillion to work with. $1.3 trillion in deficit. $901 billion, for next year, in deficit and our national debt is now over $16 trillion, and everybody knows that, i don't need to write that down. and, the president's big plan, he wants -- wants $1.6 trillion in new taxes. and here's how he wants to get there. first he wants to raise 8$849 billion over ten years by allowing the bush tax cuts, here they go... away. on the 31st of december, this year. they'll expire for households with incomes more than $250,000, $849 billion, includes $206 billion, of higher taxes on dividen
on the fiscal cliff. he wants to do that over the next decade. and, this is the kind of math i like, it works out to $160 billion per year, in taxes. republicans howling about that. are they wrong to be upset? let's look at numbers. earlier this year, the president unveiled a 3.8 -- i love this. we talk about these numbers like there is nothing do it. $3.8 trillion budget. all right, he forecast a $1.3 trillion deficit. okay? so that means, if i can figure that out, he had $2.5 trillion to work...
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fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest developments on the fiscal cliff plus new taak that the fed, guess what, will continue its bond buying programs next year. for more on the markets, i'm joined by bob pavlick, chief market strategist at banyon partners. bob, thanks so much for being here. let's get to the fed issue here. so what is what i say. they will expand or continue the program of buying assets. what impact will this have if any? >> operation twist what they call it. sell short paper and buy long term bonds in order, in an effort to try to continue to keep long-term interest rates low. really what it is
fiscal cliff, no fiscal cliff, that will be good for gold. investors will look for a safe haven and alternative to the u.s. dollar and they will be buying these assets. kind of a word of advise. ashley: interesting. tracy: sandy, while you were at the cme last week you said guys were saying 95 to $100 on oil. that is the consensus all around. >> keep watching that guy. we're near 90 bucks again. tracy: thank you, sandra. >> thank you. ashley: investors watching the latest...
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Nov 29, 2012
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we are four weeks away from going over that fiscal cliff. so far republicans are sticking to their guns. the white house is stepping up negotiations. tim geithner is set to meet top leaders to look closer at the numbers. mike em an mule has more from capitol hill. >> there's a great discussion about raising taxes. many talk about entitlement reform but with the nation's debt at 16 trillion and counting we asked lawmakers what they are willing to cut to get a deal. >> republicans offered a plan to avoid the fiscal cliff through significant spending cuts. >> we put revenue on the table as long as it's accompanied serious spending cuts to avert the crisis. >> the bipartisan bowl deficit plan had savings worth pursuing. >> they identified $1.1 trillion tax expenditures, benefits, deductions, credits and the like that could be cut as part of a grand bargain. i think we ought to look at that flat ten the code simplify it. >> harry reid told reporters yesterday he would like to get credit for what congress has previously cut. >> we have already don
we are four weeks away from going over that fiscal cliff. so far republicans are sticking to their guns. the white house is stepping up negotiations. tim geithner is set to meet top leaders to look closer at the numbers. mike em an mule has more from capitol hill. >> there's a great discussion about raising taxes. many talk about entitlement reform but with the nation's debt at 16 trillion and counting we asked lawmakers what they are willing to cut to get a deal. >> republicans...